REPORT OF THE RISK MANAGEMENT COMMITTEE
To Shareholders of Univentures Public Company Limited,
The Risk Management Committee of Univentures Public Company Limited consists of President and senior executives totaling 11 persons who are responsible for promoting and supporting the Company. There is the risk management throughout the organization and is part of corporate culture for the stakeholders of the Company to reasonably believe that the strategic implementation of the Company can achieve the objectives and goals of the organization efficiently and effectively.
In 2016, the Risk Management Committee held 4 meetings to perform the duties in accordance with the above risk management policy. The performance of duties can be summarized as follows:
Review the principles of Likelihood and Impact including the methods to calculate the level of risk of each risk factor to match the Risk Appetite and changing circumstances
Assess and analyze various risk factors possibly occurring including the tendency of potential impact on the organization covering the following issues; business risk, financial risk, operational risk, and external risk. The risk is prioritized into 4 levels; high, quite high, moderate and low.
Consider approving the risk management approaches in each case and monitoring the risk management measures that need to be revised urgently as well as the measures to prevent the risks possibly occurring in the future and preparation of high-level and quite high-level risk management reports to propose to the Board of Directors passing the revision of the Audit Committee at least once a quarter.
Based on the above operational performance, the Risk Management Committee has considered that the Company has set up adequate and comprehensive risk management for the business operations of the Univentures Group and is confident that the Company can achieve the strategic goals in order to maximize the benefit to all shareholders and stakeholders.
(Mr. Worawat Srisa-an)
Chairman of the Risk Management Committee